Detroit is a great place for that, but as you probably already know, it takes work and strategy.For background, I moved from CA to Troy, MI, back in 2017, lived there for five years, and built my Detroit portfolio aggressively—12 doors in 2.5 years, generating $16,000/month in gross rents.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

Where we expected to gross between $30-40k, we are grossing $60k and generating around $2000 per month in cash flow.

kind of like prosper and those type of companies ( which I cant see loaning money to individuals totally unsecred like a CC company ) that seems like super high risk. 

They’re a great way to generate passive income with minimal hands-on involvement.Looking forward to hearing more about your goals!

Sounds interesting.Hi Leah, as you might imagine, most of the benefits focus on individuals and properties directly impacted by the disaster.

That being said, it is another part of your property that you can use to generate income and in this area you can hit the 1% rule before expenses.

I also enclose below the text of the relevant section for ease.https://www.flsenate.gov/laws/statutes/2020/553.79QUOTE(14) A building permit for a single-family residential dwelling must be issued within 30 working days of application therefor unless unusual circumstances require a longer time for processing the application or unless the permit application fails to satisfy the Florida Building Code or the enforcing agency’s laws or ordinances.UNQUOTEThe previous link to the City of Cape Coral citizens portal lets individuals see permit details for a specific property address, the progress with applications, and if not using a private provider the status of inspections.  

As loans are offered on preREO at a discount, a payoff or reinstatement would typically generate a good return for the preREO investor.

I'm seeking to be in an environment with like minded individuals to learn and network to grow my portfolio and eventually network to collaborate on larger deals once I have a better understanding of the commercial side.